Divis stock jumps 6% on USFDA import alert relief

Shares of Divis Laboratories today jumped nearly 6 per cent after the US health regulator exempted some more products manufactured at the company's Visakhapatnam facility from the import alert issued earlier.
The stock went up by 5.57 per cent to end at Rs 657.15 on BSE. During the day, it surged 5.9 per cent to Rs 659.20. On NSE, shares of the company soared 5.79 per cent to close at Rs 658.10.
In terms of volume, 6.53 lakh shares of the company were traded on BSE and over 57 lakh shares changed hands on NSE during the day.
"The United States Food and Drug Administration (USFDA) has exempted some more products manufactured at the company's Unit-II at Visakhapatnam from the import alert issued under clauses 66-40 and 99-32 of the FDA regulations," Divis Laboratories said in a filing to BSE on Saturday. The regulator had earlier exempted 10 products, including Levetiracetam, Gabapentin, Lamotrigine, Capecitabine, Naproxen sodium and BOC core succinate, from the import alert. Earlier on March 22, Divis Lab had said the regulator had issued import alert for products made at one of its units at Visakhapatnam citing violation of manufacturing norms and refusal of inspection.